One of the biggest software companies worldwide, Google launched a blockchain division as part of its Labs group. Shivakumar Venkataraman, the vice president of google will be leading this new blockchain division. According to an email received by Bloomberg, the division will primarily focus on “blockchain and other next-gen distributed computing and data storing technologies.”
Google has been cautious about involving itself in blockchain projects, particularly with cryptocurrency. This new blockchain division will act as a test and will be under the wing of the Labs group. Labs is an experimental division in the Google company that aims to gather the company’s many projects.
The company once forbid all advertisements connected to cryptocurrency, including initial coin offering crypto wallet, exchanges, and even trading advice. However, since then, they have come a long way. They have completed a partnership with Coinbase and Bitpay, two of the most popular cryptocurrency exchanges. This enables customers to store crypto in their digital cards. They have also completed a partnership with Bakkt. Bakkt is a digital platform that allows users to spend crypto using a card on the Google Pay platform. However, they still stand far from accepting crypto transactions.
Bill Ready is Google’s president of commerce. He recently mentioned that they pay a lot of attention to the evolvement of crypto, and they hope to evolve with it as time goes on.
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